PHI, TLK And TEF, Pushing Telecommunications Industry Downward

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 28 points (-0.2%) at 17,094 as of Thursday, Aug. 28, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,204 issues advancing vs. 1,745 declining with 194 unchanged.

The Telecommunications industry currently sits down 0.2% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the industry include Telefonica Brasil ( VIV), down 2.9%, Mobile Telesystems OJSC ( MBT), down 2.8%, America Movil SAB de CV ( AMOV), down 0.7% and Qualcomm ( QCOM), down 0.6%. A company within the industry that increased today was China Telecom ( CHA), up 4.5%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Philippine Long Distance Telephone ( PHI) is one of the companies pushing the Telecommunications industry lower today. As of noon trading, Philippine Long Distance Telephone is down $1.69 (-2.2%) to $76.06 on heavy volume. Thus far, 138,790 shares of Philippine Long Distance Telephone exchanged hands as compared to its average daily volume of 66,500 shares. The stock has ranged in price between $75.75-$77.08 after having opened the day at $77.08 as compared to the previous trading day's close of $77.75.

Philippine Long Distance Telephone Company provides telecommunications services in the Philippines. Philippine Long Distance Telephone has a market cap of $16.6 billion and is part of the technology sector. Shares are up 29.4% year-to-date as of the close of trading on Wednesday. Currently there are no analysts that rate Philippine Long Distance Telephone a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Philippine Long Distance Telephone as a buy. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Philippine Long Distance Telephone Ratings Report now.

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